On Thursday 11th January, I hosted an Adjournment Debate in the House of Commons to address concerns about the cost of living in Carshalton and Wallington. I'm grateful to Bim Afolami, Economic Secretary to the Treasury, for giving his time to address these concerns with me. I was pleased to hear from the Minister regarding the level of support that has been provided to my constituents to help them during this difficult time.
It has also been reassuring to see that this Conservative Government's efforts in this area has drastically reduced inflation, subsequently slowing interest rates on mortgages and rents. Energy costs are also slowly subsiding. I am grateful for what this Government has done to help support people in our local area and below are some of the support packages that our Government has given to our local area.
- Cost of living payments in the year 2022/23 equated to £7.1 million worth of support.
- Cost of living payments in the year 2023/24 equated to £9.1 million worth of support.
- Disability cost of living benefits worth £150 gave some financial relief to around 7,600 people, equating to a payout of around £1.1 million last years and £1.2 million this year.
- Pensioner cost of living payments of £300 targeting 10,600 households equated to £3.2 million worth of support.
- Tax discount of £150 for 30,500 households equated to a payout of £4.6 million worth of support for the years 2022/23.
The total of financial support to our local area from the Government has been over £30 million which I think vividly demonstrates the Government's commitment to directly address financial challenges.
Additionally, there has been an additional £16.6 million in support through the Energy Support Scheme between October 2022 and March 2023. Moreover, the Energy Price Guarantee, worth around £625 per household, significantly reduced bills between October 2022 and June 2023, providing an estimated total value of £25.4 million to households in Carshalton and Wallington.
These measures, coupled with the ongoing commitment to address the broader rising cost of living, signify a comprehensive approach to ensure the well-being and financial stability of my constituents in Carshalton and Wallington.